I'm talking like $200-500 a barrel, or something ridiculous like that when the fields start to go dry and panic ensues. I have heard 15-20 years, and 50-60 years. Either way, it seems that this will happen during my lifetime, and I'm not too sure that there's going to be any real alternative developed in that time frame. It's just not on the political agendas of the three most populated countries in the world.
2007-12-04 02:56:51 · 11 answers · asked by bada_bing2k4 4 in Politics & Government ➔ Politics
Probably won't be that extreme. North America has 150 years supply in the Oil Shales and tar sands. The tar sands are profitable now at $90/barrel. The Oil shales will be profitable if it goers much higher. As long as we can burn someone else's oil cheaper than we can get at our own, we will. When that changes, we'll start using more of ours. But I would think, that in 100-150 years we will have come up with something a bit more stable and reliable than oil.
2007-12-04 03:03:59 · answer #1 · answered by jehen 7 · 2⤊ 0⤋
It won't. OPEC has it figured out and so does Exxon. They know how much they can gouge us until we balk and it costs them money. Here in Arkansas, it is amazing. Every time the Attorney General announces we will look into gouging, the prices go down. Besides, we are using less fuel due to the prices. Don't believe it? Check the tourist dollars this year compared to say 3 years ago. Notice the boat traffic on local likes compared to a few years ago. Are the campgrounds as full as they used to be? See as many travel trailers on the roads? I live right between two tourist traps and I have noticed a huge difference. Supply and demand? No, it is supply only. They know how to manipulate the system to cause imaginary shortages and raise prices. We are slowly getting the picture.
2007-12-04 03:08:16 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I think the price of oil is getting there presently(extreme levels). This addiction of oil by the world is a serious problem. As far as $200 per barrel I could see that level within 10 years. $500 per barrel that is quite a jump from $200, I couldn't predict that one. As a Canadian with the prices going up it will only help our bottom line
2007-12-04 03:06:23 · answer #3 · answered by ? 5 · 0⤊ 0⤋
The oil price is only going one way, If Iran is attacked $200 a barrel is certain, $500 possible. Without the attack we may have a few more years.
It is no coincidence that all countries are scrambling to secure oil supplies, and oil drilling companies are the fastest growing.
http://money.cnn.com/magazines/fortune/fortunefastestgrowing/2007/full_list/eps.html
2007-12-04 04:23:11 · answer #4 · answered by . 5 · 0⤊ 0⤋
I actually really hope that it does happen. You can make anti-cancer drugs out of crude oil. Burning it is so so so so so so so so so so so stupid! I hope the price goes through the roof and up into space for a barrel of oil. That would also necessitate switching to an alternative fuel source that would hopefully be more efficient.
2007-12-04 03:02:55 · answer #5 · answered by Anonymous · 1⤊ 0⤋
once you hear human beings talking approximately "working out of oil" they do no longer actually propose that we will run out of oil. What they propose is that finally the bigger certainly accessed oil supplies would be diminished. there'll nevertheless be oil to mine however the value of mining that's going to be greater beneficial than what the employer would be waiting to get lower back whilst they sell it. that's talked approximately as "height oil" whilst the value of mining exceeds what the marketplace will endure. at the instant it does not look like this might ensue. as long as anybody is keen to pay the value for oil we would have it. ideal now there are no comercial possibilities to grease so shoppers have not have been given any determination yet to pay the severe expenses. that's solid for oil businesses interior the quick term yet undesirable for anybody interior the long term. severe oil expenses aidpersistent inflation. whilst the value of delivery and transporting products is going up the value of each little thing follows. that's helping to deteriorate the financial gadget. additionally, without option to grease human beings will proceed to emit CO2. international Warming is actual yet relatively that's going to be talked approximately as climate replace. The Earth does have organic warming and cooling cycles the undertaking isn't the undeniable fact that the Earth is warming, the undertaking is the value at which the Earth is warming. climate replace won't merely make the Earth warmer. The Earth is warming so at as quickly as that that's disrupting organic techniques that distribute warmth capacity. some places will truthfully get chillier. No concerns, climate replace is merely a actual threat to those who stay in third international countries. you would be effective.
2016-10-19 03:12:26 · answer #6 · answered by ? 4 · 0⤊ 0⤋
They're not already at an exreme level? We won't run out anytime soon, I don't think, but I would like to see some other competitive methods of fueling our cars so the price will have to come down, you know the free market system thing.
2007-12-04 03:05:26 · answer #7 · answered by The Duke 6 · 1⤊ 0⤋
In the early to mid 90s, I helped my dad run a full service auto shop. I remember the summer in 1992, somebody pulled up and saw the price for full service unleaded (it was $1.44). This guy about had a heart attack and drove off.
2007-12-04 03:06:39 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Eventually Oil will go the way of the 8 track tape and you wont be able to give it away...
2007-12-04 03:02:02 · answer #9 · answered by cowboysfan 4 · 0⤊ 1⤋
What time is it?
It's five times higher than it was just two years ago. That sounds extreme to me.
2007-12-04 03:00:32 · answer #10 · answered by Anonymous · 0⤊ 1⤋